Buybacks Surge, Led by Apple

Stock buybacks surged 59.3% in the first quarter. The question is: Was the increase just to help a weather-poor quarter or the start of a new trend?

A bundle of corporate cash was spent on share repurchases in the first quarter. S&P Dow Jones Indices reported last Wednesday that its preliminary results show S&P 500 stock buybacks surged 59.3%, to $159.3 billion, in January-March, from $100 billion in 2013's first quarter. The latest tally also is 23.1% above the 2013 fourth-quarter showing. It's the second-highest ever, as well, outdone only by the $172 billion spent in 2007's third quarter.